8/28/2007 @ 11:25AM

What's A Hacked iPhone Worth? How About A New Car?

What could be better for teenage hacker than successfully unlocking the iPhone so that it could be used on an alternative phone network?

How about a new car?

This is the enviable choice offered to George Hotz on Monday. Hotz is the 17-year-old from New Jersey who made headlines when he told the world that he, along with help from four others, had managed to unlock an iPhone and use it on T-Mobile’s wireless network. Hotz posted instructions on his blog, http://iphonejtag.blogspot.com showing others how to do as he did. Soon a small dose of celebrity descended upon the college freshman, replete with television appearances and articles about his exploits.

The only carrier in the U.S., besides
AT&T
, that has a network compatible with the iPhone is T-Mobile, which demands a SIM card to be operational.

Apple
has said that it will make the iPhone available in Europe this year, though it hasn’t set a date or identified carriers.

Now the news-making youth is trading in his gadget for a new ride.

On his blog, Hotz wrote that Terry Daidone, the founder of CertiCell, a mobile phone repair company, contacted him and offered to make a trade for the modified iPhone.

“I traded it for a sweet Nissan 350Z and 3 8GB iPhones,” Hotz posted.

Perhaps, even better, there is even the promise of a paycheck. Hotz said that he’ll now also be doing some consulting work for CertiCell.

“This has been a great end to a great summer,” Hotz wrote. He left for college on Sunday, Aug. 26.

On his blog, the Hotz listed the tools required to unlock the iPhone, which include a trusty case opener, a soldering iron, fine pitch wire, and an unlock switch. But although the modification is impressive, some analysts doubt whether consumers will really ultimately decide themselves to mess with such an expensive toy.

AT&T has an exclusive multi-year deal with Apple to sell the iPhone in the U.S. The company hasn’t disclosed how much they give back to Apple, but analysts believe its 100% of handset revenue and about $10 a month. (See: ” iPhone Or Not iPhone, That Is The Question.”)